Four charts this evening with a few modest thoughts.
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First, the US Dollar ETF proxy, UUP.
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The Dollar has a lot of sway with the direction of the stock market - not so sure it has the same effect on gold, however.
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As you can see, the daily TSI is below ZERO but curling skyward. I can only hope and pray that it does not break that TSI down trend line.
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Click on the chart to ENLARGE
Second, let's take a look at the SP-500.
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Today's horrendous downdraft in price moved the TSI considerably, but it is still holding out for a bottom soon with a divergence in place. The divergence could always get run over, of course. But I am guessing it would take another day like today to do it.
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Click on the chart to ENLARGE
Third, the daily chart of GLD.
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Daily chart is still positive and the TSI is in bullish territory, but looking mighty tired.
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Click on the chart to ENLARGE
Fourth and finally, the miners (HUI).
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Looking a little more alive to me than gold, in fact. See what you think.
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Click on the chart to ENLARGE
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